Financial statements of a manufacturing firm Instructions Amount Descriptions Income Statement Inventory Balances Instructions The following events took place for Digital Vibe Manufacturing Company during March, the first month of ts operations as a producer of digital video monitors a Purchased $137 800 of materials b. Used 594, 100 of direct materials in production cincurred 5184 800 of direct labor wages d Incurred 5212.720 of factory owerhead e Transferred $423, 160 of workingrocess to finishgoods Sold goods for $645,000 Sold goods with a cost of $365,000 hincurred 586 260 of selling expense. Lincurred $71,950 of administrative expense. Required: Using the information given complete the following a Prepare the Marchincome statement for Digital Vibe Manufacturing Company Refer to the Amount Descriptions is provided for the exact wording of the answer choices for text entries D. Determine the inventory balances at the end of the first month of operations